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Article
Publication date: 17 January 2025

Vikram Desai, Joung W. Kim, Allison Kristina Beck, Renu Desai and Robin Roberts

We examine the content of auditors’ going concern opinions (GCOs) to investigate how the market reacts to particular explanations and to the overall number of reasons presented by…

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Abstract

Purpose

We examine the content of auditors’ going concern opinions (GCOs) to investigate how the market reacts to particular explanations and to the overall number of reasons presented by auditors. We investigate whether the market reacts differentially to explanatory paragraphs alluding to specific financial concerns emphasized in the finance literature: reductions in expected future cash flows, difficulties with short-term liquidity and violations of debt covenants. Finally, we examine whether GCOs that are ex-post accurate, as indicated by a subsequent bankruptcy, are accompanied by more negative reactions.

Design/methodology/approach

We regress cumulative abnormal returns on the number of reasons cited by auditors and indicator variables for whether auditors cited concerns pertaining to future cash flows, debt covenant violations or short-term cash holdings. We include an indicator for subsequent bankruptcy and control variables.

Findings

The market reaction to GCOs is significantly more negative when auditors offer more reasons or specifically cite a decrease in expected future cashflows or a violation of debt covenants and when GCOs are ex-post accurate.

Research limitations/implications

The results indicate that auditors’ explanations for GCOs contain incremental information content that is useful to investors.

Practical implications

We find that more detailed GCO reports are more informative to investors, supporting the need for regulations requiring auditors to provide detailed justifications when issuing GCOs.

Originality/value

This study is the first to examine how the number of reasons given by auditors affects market reactions to GCOs and to specifically examine how investors react to GCOs that cite violations of debt covenants or reductions in future cash flows as justifications for the GCO.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

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Book part
Publication date: 20 May 2017

Prabal K. De

Child immunization is widely recognized as a cost-effective preventive medicine. Unfortunately, in India about 50% of the eligible children aged 12–23 months miss some essential…

Abstract

Child immunization is widely recognized as a cost-effective preventive medicine. Unfortunately, in India about 50% of the eligible children aged 12–23 months miss some essential vaccination. Though a positive association between maternal education and markers of child health like immunization has been long established, the literature has struggled to find a causal relationship, mainly because education is inextricably correlated with other socioeconomic variables like income. In this chapter, I propose a new instrument for women’s education in India using the following facts. First, due to lack of sanitary facilities in schools, particularly rural schools, large number of girls drop out of school once they reach puberty. Second, age at menarche is largely determined by biological factors and not social factors. Together, age at menarche can explain variations in schooling, yet be independent of outcome variables like child immunization. I find that additional years of maternal schooling (conditional on strictly positive years of schooling) do increase the probability of complete immunization of children.

Details

Human Capital and Health Behavior
Type: Book
ISBN: 978-1-78635-466-2

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Article
Publication date: 2 November 2015

Barri Litt, Vikram Desai and Renu Desai

The purpose of this paper is to explore the audit price reactions of local accounting firms to the entry of the Big Four accounting firms into the Indian audit market, providing…

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Abstract

Purpose

The purpose of this paper is to explore the audit price reactions of local accounting firms to the entry of the Big Four accounting firms into the Indian audit market, providing unique insight into emerging market dynamics.

Design/methodology/approach

Using financial data from Indian audit clients for a ten-year period from 1996 to 2005, the authors conduct a multivariate regression analysis based on extant audit fee literature.

Findings

This study finds evidence of a price-cutting strategy on behalf of the local incumbent accounting firms in response to the entry of the Big Four firms. It also shows small-sized incumbent firms to cut prices more drastically relative to medium-sized incumbent firms.

Originality/value

This study provides empirical insight into the pricing dynamics of professional services in an emerging market setting. Such insight is increasingly important in our evermore globalized economy where emerging markets are frequently the targets of expansion.

Details

Journal of Accounting in Emerging Economies, vol. 5 no. 4
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 1 February 2016

Vikram Desai, Bixia Xu and Tao Zeng

The historical development and size of China’s audit market provides an opportunity to investigate important questions regarding the functioning of the market for audit services…

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Abstract

Purpose

The historical development and size of China’s audit market provides an opportunity to investigate important questions regarding the functioning of the market for audit services that are difficult, if not impossible, to test in other globally established markets. The purpose of this paper is to examine the effect of the market entry of the Big Four accounting firms into China on the audit fees charged by its local accounting firms.

Design/methodology/approach

In this paper the authors rely primarily on the incumbent pricing literature (Simon, 2005; Geroski, 1995) to assist them in developing the specific hypotheses and empirical tests. This paper is an empirical study, which examines whether local incumbent accounting firms cut prices in response to the Big Four’s entry by using data from annual reports and audit reports for China’s listed companies from the 1994 to 2008 period.

Findings

This study shows that local incumbent firms cut prices post-entry. This study also finds that it was local large-sized accounting firms as well as accounting firms located in regions with highly developed- and competitive markets that cut prices in response to the Big Four’s entry.

Practical implications

This study has important implications for the Big Four accounting firms as it provides useful information about pricing strategies that would likely be used by local accounting firms in a new market. Local accounting firms in emerging markets can also gain useful insights about the pricing strategies adopted by the Big Four accounting firms when they enter a market.

Originality/value

Audit market research has little to offer on how local accounting firms respond in their pricing to the entry of Big Four accounting firms into their market, mainly because in western countries such as Canada, England, and the USA, the Big Four accounting firms are the oldest firms operating in those markets. This paper is the first study that examines the effect of the market entry of the Big Four accounting firms into China.

Details

Journal of Accounting in Emerging Economies, vol. 6 no. 1
Type: Research Article
ISSN: 2042-1168

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Book part
Publication date: 27 October 2016

Alexandra L. Ferrentino, Meghan L. Maliga, Richard A. Bernardi and Susan M. Bosco

This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in…

Abstract

This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.

Details

Research on Professional Responsibility and Ethics in Accounting
Type: Book
ISBN: 978-1-78560-973-2

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Article
Publication date: 2 January 2018

Hanumappa Anilkumar, Mallikarjun Dora and Asha Desai

The purpose of the study is to review the e-books collection, namely, Ebrary Academic Complete, by understanding its features, cost and usage at Vikram Sarabhai Library, Indian…

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Abstract

Purpose

The purpose of the study is to review the e-books collection, namely, Ebrary Academic Complete, by understanding its features, cost and usage at Vikram Sarabhai Library, Indian Institute of Management Ahmedabad (IIMA). The study attempts to understand the usefulness of Ebrary in terms of its currency of titles, publishers, subjects and cost.

Design/methodology/approach

The paper is based on five-year usage data of Ebrary Academic Complete at Vikram Sarabhai Library, IIMA. The data on usage of Ebrary was downloaded and analyzed on different parameters to find out the overall value or use of Ebrary Academic Complete package from the perspective of a management library.

Findings

The research concluded that there was an increase in usage of Ebrary Academic Complete over time. The subject analysis revealed that titles from “Business and Economics”, “Computers” and “Social Science” were the highest used. The publisher analysis indicated that John Wiley & Sons topped in both the highest number of titles in the package and highest used titles. The annual subscription fee model of Ebrary Academic Complete adopted by Vikram Sarabhai Library was working well with a gradual increase in usage bringing down the per title access costs.

Originality/value

The study helps in understanding the approach to evaluating e-book collections in terms of currency of content, subjects covered, publishers included and costs involved. The detailed analysis would assist libraries in decision-making with regard to e-book collection development.

Details

Collection and Curation, vol. 37 no. 1
Type: Research Article
ISSN: 2514-9326

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Case study
Publication date: 15 December 2021

Nitin Pangarkar and Neetu Yadav

The case illustrates the challenges of managing JVs in emerging markets. specifically, after going through the case, students should be able to: i.Analyze the contexts in which…

Abstract

Learning outcomes

The case illustrates the challenges of managing JVs in emerging markets. specifically, after going through the case, students should be able to: i.Analyze the contexts in which firms need to form JVs and evaluate this need in the context of emerging markets such as India; ii.Understand how multinational corporations can achieve success in emerging markets, specifically the role of strategic (broader than the product) adaptation in success; iii.Evaluate the impact of conflict between partners on the short-term and long-term performance of a JV; and iv.Create alternatives, evaluate each alternative’s pros and cons, and recommend appropriate decisions to address the situation after a JV unravels and the organization is faced with quality and other challenges.

Case overview/synopsis

McDonald’s, the global giant in the quick service industry, entered India in 1993 and formed two JVs in 1995 one with Vikram Bakshi (Connaught Plaza Restaurants Ltd or CPRL) to own and operate stores in the northern and eastern zones, and another with Amit Jatia (Hardcastle Restaurants Private Limited or HRPL) to own and operate stores in the western and southern zones. Over the next 12 years, both the JVs made steady progress by opening new stores while also achieving better store-level metrics. Though CPRL was ahead of HRPL in terms of the number of stores and total revenues earned in 2008, the year marked the beginning of a long-running dispute between the two partners in CPRL, Bakshi and McDonald’s. Over the next 11 years, Bakshi and McDonald’s tried to block each other, filed court cases against each other and also exchanged recriminations in media. The feud hurt the performance of CPRL, which fell behind HRPL in terms of growth and other metrics. On May 9, 2019, the feuding partners reached an out-of-court settlement under which McDonald’s would buy out Bakshi’s shares in CPRL, thus making CPRL a subsidiary. Robert Hunghanfoo, who had been appointed head of CPRL after Bakshi’s exit, announced a temporary shutdown of McDonald’s stores to take stock of the current situation. He had to make a number of critical decisions that would impact the company’s performance in the long-term.

Complexity academic level

MBA, Executive MBA and executive development programs.

Supplementary materials

Teaching Notes are available for educators only.

Subject code

CSS 11: Strategy.

Details

Emerald Emerging Markets Case Studies, vol. 11 no. 4
Type: Case Study
ISSN: 2045-0621

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Article
Publication date: 9 May 2016

Vikram Sharma, Amit Rai Dixit and Mohd. Asim Qadri

The purpose of this research paper is to identify the enablers for Lean implementation in the manufacturing sector, to establish a relationship among them using interpretive…

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Abstract

Purpose

The purpose of this research paper is to identify the enablers for Lean implementation in the manufacturing sector, to establish a relationship among them using interpretive structural modeling (ISM) and to rank them using interpretive ranking process (IRP).

Design/methodology/approach

The research paper presents a blend of theoretical framework and practical applications. In the paper, eight enablers of Lean production are identified from literature survey and experts’ opinion. These include 5S, value stream mapping (VSM), just in time, single minute exchange of die, computer-integrated manufacturing, concurrent engineering, training and enterprise resource planning. ISM is used to obtain a structural relationship among these enablers of Lean. MICMAC analysis is used to identify the driving power and dependence of the variables. Further, IRP is used to rank the lean enablers with respect to key performance areas.

Findings

The ISM- and IRP-based models indicate that “training” is the most significant factor for the Lean implementation process in manufacturing sector. The MICMAC analysis also shows that “training” has the maximum driving power and the least dependence and hence has strong managerial significance. The management should place high priority on tackling this criterion. VSM occupies the top level in the ISM hierarchy, indicating that all other Lean enablers should act in unison to make VSM implementation a success.

Originality/value

Enablers are the building blocks for deployment of the Lean concept. To know the key enablers and relationship among them can help many organizations to develop Lean competencies. This study is perhaps among the first few that focuses on two modeling procedures based on interpretive logic, i.e. ISM and IRP. The paper provides useful insights to the Lean production implementers, consultants and researchers.

Details

Journal of Modelling in Management, vol. 11 no. 2
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 12 March 2018

Kanupriya Misra Bakhru, Manas Behera and Alka Sharma

This paper aims to examine the traditional business communities and family businesses of India, their emergence and sustained growth.

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Abstract

Purpose

This paper aims to examine the traditional business communities and family businesses of India, their emergence and sustained growth.

Design/methodology/approach

The authors analyze the role of business communities in family businesses of India and identify business communities that have still sustained and marked a global presence.

Findings

Business communities such as Marwaris have the knack for business activities and are leaders of family businesses in India today, who have sustained their past success and continue to create new histories. Other traditional business communities such as Parsis, Sindhis, Chettiars and Gujarati banias have not been able to sustain much. Possible reasons were switching to white-collar jobs, taking up diplomacy and other professions, inter caste marriages, international migration in search of business and Indian government policies.

Research limitations/implications

This study provides a useful source of information for academics, policy-makers and economists.

Practical implications

Traditional business communities populate the list of family businesses that have marked their global presence. This paper identifies various factors that are responsible for the growth and sustainability of these business communities.

Social implications

The study clarifies the role of business communities in domestic economic development.

Originality/value

The paper explored traditional business communities of India and assessed their role in family businesses of India that currently mark a global presence.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 12 no. 1
Type: Research Article
ISSN: 1750-6204

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Book part
Publication date: 26 August 2020

Jane Nichols, Beth Filar Williams and Chris Ervin

A common way for academic libraries to support student success is through partnership with writing centers. Practices such as applying service design thinking to develop and…

Abstract

A common way for academic libraries to support student success is through partnership with writing centers. Practices such as applying service design thinking to develop and inform integrated library and writing center services can lead to a student-focused space. This chapter outlines how service design, studio pedagogy, and peer learning informed the setup and ongoing services in The Undergrad Research and Writing Studio (URWS or, the Studio), a shared space in the Oregon State University Libraries. The URWS model is grounded in studio pedagogy, which employs a “propose-critique-iterate” approach to student writing development (Brocato, 2009). Research and writing consultants assist student writers when they have a question, mirroring libraries’ point of need service approach. Librarians and studio faculty collaborated on the training curriculum, which emphasizes how research and writing are intertwined processes. Peer consultant reflection and assessment inform the ongoing development of the overarching program, service, space, and training, ensuring alignment with the ethos of centering students and their learning.

Details

International Perspectives on Improving Student Engagement: Advances in Library Practices in Higher Education
Type: Book
ISBN: 978-1-83909-453-8

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